(a) If more than one lien created under Alaska Stat. § 34.35.050 – 34.35.120 is claimed against property, the court in its judgment shall declare the rank of each lien or class of liens in the following order:

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Terms Used In Alaska Statutes 34.35.112

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(1) all persons other than prime contractors or subcontractors with lien rights under Alaska Stat. § 34.35.050(1);
(2) the trustees of employment benefit trusts for persons described in (1) of this subsection;
(3) all materialmen and subcontractors;
(4) persons described in Alaska Stat. § 34.35.050(5) and prime contractors, other than the general contractor;
(5) the general contractor.
(b) For purposes of Alaska Stat. § 34.35.050 – 34.35.120, if the proceeds of the foreclosure sale of the property are insufficient to pay the lien claims of all persons who have recorded claims of lien, the

(1) liens of all individuals with lien rights under Alaska Stat. § 34.35.050(1) shall first be paid in full, or pro rata if the proceeds are insufficient to pay them in full;
(2) liens of trustees of employment benefit trusts for persons described in (1) of this subsection shall be paid in full or pro rata if the proceeds are insufficient to pay them in full;
(3) liens of materialmen and subcontractors shall be paid in full or pro rata if the proceeds are insufficient to pay them in full;
(4) liens of persons described in Alaska Stat. § 34.35.050(5) and prime contractors other than the general contractor, shall be paid in full or pro rata if the remainder is insufficient to pay them in full; and
(5) lien of the general contractor shall be paid out of the balance.
(c) For purposes of Alaska Stat. § 34.35.050 – 34.35.120, if the proceeds of the foreclosure sale of the property are sufficient to pay the lien claims of all persons who have recorded claims of lien, the balance shall be paid to the person who owned the property before the foreclosure sale.
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